coin-img-ETHETH-1.25%coin-img-BTCBTC-0.42%coin-img-SOLSOL+2.95%coin-img-XRPXRP+1.80%coin-img-TOMTOM+1,937.37%coin-img-BENZBENZ-21.79%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.20%coin-img-ETHETH-1.25%coin-img-BTCBTC-0.42%coin-img-SOLSOL+2.95%coin-img-XRPXRP+1.80%coin-img-TOMTOM+1,937.37%coin-img-BENZBENZ-21.79%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.20%coin-img-ETHETH-1.25%coin-img-BTCBTC-0.42%coin-img-SOLSOL+2.95%coin-img-XRPXRP+1.80%coin-img-TOMTOM+1,937.37%coin-img-BENZBENZ-21.79%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.20%coin-img-ETHETH-1.25%coin-img-BTCBTC-0.42%coin-img-SOLSOL+2.95%coin-img-XRPXRP+1.80%coin-img-TOMTOM+1,937.37%coin-img-BENZBENZ-21.79%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.20%

Circle Sued Over Alleged Failure to Freeze Funds in $280M Drift Protocol Exploit

Circle Internet Group is facing a class-action lawsuit filed in a U.S. federal court in Massachusetts, stemming from its alleged handling of a $280 million exploit targeting Drift Protocol ($DRIFT) on April 1. Investor Joshua McCollum initiated the complaint on behalf of over 100 alleged victims, asserting that Circle failed to freeze compromised funds during the incident. The lawsuit claims attackers successfully transferred approximately $230 million in $USDC from Solana to Ethereum over several hours, utilizing Circle's proprietary Cross-Chain Transfer Protocol (CCTP). Plaintiffs' lawyers contend that Circle "permitted this criminal use of its technology," with the final amount of damages to be determined at trial.
DRIFT
DRIFT+3.46%
USDC
USDC+0.00%
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